To what amount will the following investment accumulate?
$7,130 invested today for 19 years at 6%, compounded annually. Which formula would I work this with? I'm confused.
Thank you for the opportunity to help you with your question!
the formula is
A is the initial investment amount, i is the compound interest rate in a period, and n is the number of compound period
Okay, now I see. I wasn't sure which formula to use as there's so many to work with when on the subject of the time value of money.
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